The buyback mechanism is already proving its power.
From April 21st to June 12th, the
@flyingtulip_ protocol already bought back ~1% of the ethereum:0x5dd1a7a369e8273371d2dbf9d83356057088082c currently circulating on the secondary market in just 1.5 months.
And that's while only 2 products are live today: ftUSD and margin lending. Neither has yet reached its full potential, as both products are currently capped.
Now imagine what happens when spot, TPS, perps, launchpad, insurance, binary prediction markets, WitnessNet, and the rest of the ecosystem go live. The amount of protocol-driven buy pressure is going to be staggering.
This is only the beginning. The biggest growth drivers haven't even arrived yet.
The journey from here is going to be incredible.
We're still extremely early to what could become one of DeFi's leading protocols. The innovation, tokenomics, and value capture mechanisms are simply on another level.
Crazy times ahead 🌷👀